*By Conor White*
Apple, the world's most valuable publicly traded company, may be seriously undervalued, said longtime tech investor Eric Jackson, founder and president at EMJ Capital. He told Cheddar that the iPhone maker should've crossed the $1 trillion threshold long ago.
"This is a company that should be valued as a services business instead of a discreet product business, which is, as long as I can remember, how this company has been valued," he said in an interview Friday.
Jackson estimated Apple's value closer to $1.5 trillion, and he views it as a service-oriented company, much like Salesforce and Google, which get traded at roughly six times price-to-sales multiple.
Though many investors consider Apple a hardware company, Jackson said most consumers have a different relationship with Apple's products.
"Your relationship with your iPhone itself is a long-term service commitment," he said. "Even though you don't have a contract that says your next iPhone you're going to upgrade in one year or two years, who among us who owns an iPhone is not going to, in three to four years, upgrade to the latest and greatest iPhone?"
As bullish as Jackson is on Apple, he admitted China ー and consumers in other countries ー may stunt the company's growth because the iPhone faces competition from cheaper smartphones.
"China is a challenge, for sure, probably the biggest challenge that Apple faces in that regard because you have other services like WeChat that can potentially get in between your personal relationship with the phone," Jackson said.
For more on this story, [click here](https://cheddar.com/videos/why-one-investor-believes-apple-is-worth-more-than-1-trillion).
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
